Macquarie Telecom to pump $15m into hosting

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Drives preliminary earnings upgrade.

Macquarie Telecom has revealed plans to invest $15 million to expand its hosting business over the next fiscal year.

Macquarie Telecom to pump $15m into hosting

The telco said today it expected earnings before interest, tax, depreciation and amortisation (EBITDA) for the year to be between $28 million and $29 million for the year ended June 30, 2010.

It had previously forecast a result somewhere between $26 million and $28 million.

"The hosting business has continued to perform strongly and is a key driver of the strong result," chief executive David Tudehope said in a statement.

"Over the next fiscal year we intend to invest approximately an additional $15 million over our current capital expenditure run rate to expand our hosting capacity to support growth in this business."

Final results will be made public on August 26, 2010.

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